No doubt that status was as grossly abused as you say. But do you think the world is ready to try something new? The amount of financial re-engineering required is daunting, and there is still no serious replacement candidate. The euro is the only one worth considering, and I don't think it has enough of a track record to give anyone confidence. I think there's a significant chance it won't last a generation.

The mismanagement of the dollar and, by extension, the U.S. economy is extraordinary, though.